Climate Change Data

Environmental Metrics

ESG Focus Areas

• Social Commitment
• Ethical Management
• Risk Management
• Human Resources Development
• Corporate Social Responsibility

Environmental Achievements

• Not disclosed

Social Achievements

• Launched “OneDo” innovation campaign, resulting in KRW 180 billion in profit growth and cost savings; conducted Woori Community Service Day with 11,000 employees, customers, and families participating in volunteer activities globally; donated KRW 1 billion to Korea Disaster Relief Association and KRW 1 billion to the Korean Red Cross; implemented various programs for multicultural families and other social issues.
• Established Woori Smile Microcredit Bank in 2009 to help low-income families.
• Implemented “Woori Bonus Family” loyalty program.

Governance Achievements

• Established Enterprise Risk Management System (ERMS); expanded the role of the Chief Risk Officer (CRO) in each subsidiary; established a Risk Management Division at headquarters; implemented an integrated “stress test” process; maintained high ethical standards through a Code of Ethics and various compliance programs; Group’s Ethics Committee met twice in 2011 to evaluate affiliates’ ethical performance.

Climate Goals & Targets

Environmental Challenges

• Global economic slowdown; financial instability in Europe and the Middle East; European sovereign debt crisis; downgrade of USA’s credit rating; lower-than-expected growth in Korean economy; increased volatility in stock and foreign exchange markets; mounting household debt; rising inflation; lackluster property market; geopolitical risks due to North Korea’s leadership transition; international sanctions on Iran; fierce competition among Korean financial institutions; changes in Korea’s financial regulations; implementation of Basel III requirements; declining profitability due to lower credit card commission rates and rising credit risk.

Mitigation Strategies

• Aggressive efforts to clean up toxic assets; lowering non-performing loan ratio; cost-efficiency measures through “OneDo” campaign; diversification of operations; strengthening asset base; prioritizing risk management activities; preemptive and proactive risk management system; managing foreign currency assets and liabilities; enhancing profitability; maximizing operating income; minimizing credit costs; slashing funding costs; increasing volume of low-cost core deposits; increasing profit contributions from non-interest-bearing products; strengthening internal risk management system; developing low-risk products; managing customer book more conservatively; optimized liquidity management; attracting high-net-worth customers; developing new products; enhancing risk management, customer management and marketing campaigns; completing the process of spinning off its credit card businesses.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: K-IFRS

Certifications: CMMI Level 5 (Woori FIS)

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• The Banker magazine named Woori Financial Group the number one financial group in Korea in terms of Tier 1 capital and total assets; Woori Bank won the grand prize at the Korea Best Brand Awards in the private banking services category and the grand prize at the Asia PB award; Woori Investment & Securities received numerous awards including “Best Distributor” and “Best Investment Bank”.